[fweingart]

The Fed had opened the sluices, and the money had swamped the stock market. ?

Crank up the presses. Print more money. Who cares what the dollar is worth. It's only a meaningless statistic, right?

[stylin19a]

and the loss of a third of the money supply

kind of a throw-away line. the Feds actually removed the money from circulation. In the U.S., a dollar was worth something, but nobody had one.
In Germany, everyone had Deutschmarks and they were worth nothing.

this would be a different kind of crash.

[TheThinker]

First, I think that the we have a tighter rein on the money supply now and have learned lessons from the depression. Second, Hoover is almost always blamed for the depression even though illegal gold speculation, drought and communist fanaticism was taking root. Could it be because he was a Republican. Hmm...

[pabianice]

Selling short, are we, Pat?

[RightWhale]

The USA is so powerful it doesn’t need the $US but can run and outrun all the rest on any currency. BTW, oil up $4 today, and so is everything else. Gasoline you don’t want to hear about.

[L,TOWM]

ping a rooni

[Alberta's Child]

They’ve already been printing the money . . . that’s why the value of the dollar has declined so much in the last few years. Someone posted an interesting analysis on a thread last week indicating that the real inflation rate in the U.S. for the last twelve months was something on the order of 18% — not the 2% to 3% reported by the Federal government.

[Pietro]

I thought this might be interesting and then I saw it was written by Pattywagon Buchanon. The man’s a loon.

[Hydroshock]

Economy/Credit/Housing Issues Ping List

If you want on or off this list let me know.

[George W. Bush]

A sound money ping.

[Xenalyte]

“What’s the euro at now?” ping.

[George W. Bush]

ping?

[r9etb]

Hm. A pretty useless article, when you get right down to it.

[BlueNgold]

Pat Buchanan trying to remain relevant with more ‘the sky is falling’ rhetoric?

[rabscuttle385]

It is responsible for defending the dollar, which represents the real savings and wealth of the nation.

Not always true! The wealth of the United States is not always measured in dollars. It's also measured in the quality of its people, technology and know-how, geography and natural resources, transportation infrastructure, economic systems, and legal traditions.

Unfortunately, the liberals have been actively dumbing down the people, aborting American children, giving away our technology to our rivals, denying access to our natural resources, allowing our highways to fall apart, refusing to enforce the law, and attempting to micro-manage the lives of Americans everywhere. The results have been far more devastating than anything they could do to the dollar.

[LowCountryJoe]

Two men debunked the myth that the low-tax, high-tariff policy of the 1920s brought on the Depression. The more famous is Milton Friedman, who proved to the satisfaction of a Nobel Prize committee that the Depression was a monetary phenomenon. The Fed had opened the sluices, and the money had swamped the stock market.

Someone please show me where Milton Friedman ever wrote or said that an increase in money supply in the 1920s was responsible for the Depression. The only thing that I have ever read from Friedman was that it was the lack of money supply after the Panic of 1929 which created bank runs and prolonged the depression.

The real story is that it was rank protectionism (raising tariffs and government's closing of banks so that people could not access their Federal Reserve Notes) that prolonged the debacle. This is just Pat misreading history, yet again.

[mysterio]

Crank up the presses. Print more money.



But it will only work if we export a lot of jobs. :)

[Uncle Hal]

I am concerned about the weak dollar. If OPEC demands payment in EURO’s all hell is going to break loose. This will cause the stock market to drop big time.

[M. Espinola]

We have had the sub-prime housing market meltdown, now effecting credit markets, and very soon auto loans - whose next, as oil is almost $100 a barrel, and the Dollar is at a record low?

[DaGman]

I will be getting an inheritance check in a week or so. Nice check, but I don’t like the way I’m getting it. In any event, I will be taking all of it and buying Euros as a hedge. I plan next year to start moving my savings and everything left over after I pay bills into Euros. I’m also going to drastically cut back spending everywhere. There is no sense in holding onto a currency that is falling and with no bottom in sight. I worked too damn hard for my money to see it dwindle away in value and I’m getting old. If it’s a global economy, I’m going global to survive.

[GaryLee1990]

Crank up the presses. Print more money. Who cares what the dollar is worth. It's only a meaningless statistic, right?

I believe that would cause inflation, big-time.

WatchingHillary.com